News Update

CBIC amends tariff value of silver; No change for other commoditiesHigh Level Official Delegation from Mauritius visits National Centre for Good GovernanceGovt hikes Minimum Wages vide enhanced VDA for unorganised workersTRAI mandates whitelisted URLs, APKS, or OTT links for SMS TrafficGST - Rule 86A is not a machinery provision for recovery of tax - Order can be passed only if ITC is available in the taxpayer's ECL - No negative blocking: HCFrance backs India’s membership to Security CouncilGST - No opportunity of personal hearing as was requested while replying to SCN was given - Order set aside: HCJaishankar calls for reforms of WTO, G20 & UNGST - Goods were purchased from SAIL by a third party who sold to petitioner and who subsequently re-sold to consignee - No justification for detention on ground that correct documents were not travelling with truck: HCFamily of 5 found dead in car in TN; Suicide suspectedAlternative Global Value Chain - Is India going to be 'Next China'!IMF okays USD 7 bn loan to support Pak’s sinking economyCus - Unreasoned order - Order spoke for itself - Revenue counsel tries his best to justify order but in the end had to throw in the towel: HCBombay HC quashes govt clearance given after construction in Coastal areaPrevent misuse of s.114AA of Customs ActBrazil keen to ink trade deal with EUGST - Existence or otherwise of principal place of business - A taxpayer's registration cannot be cancelled solely on the basis of some general queries/enquiries from random persons, of which there is no record: HCHarris promises tax credit and investments to US manufacturersCBIC notifies HAG benefits to 22 IRS officersNukes may deflect asteroid threatening earth: ScientistsAfter Iranian death threat, Trump says Iran should be torn into piecesIndia, Australia working to strengthen ECTA through CECA: GoyalUS Intel suggests Russia has secret war drones factory in ChinaSurvey reveals 31% Indians now use e-com platforms for ordering groceryIndia's coal imports see marginal increase amid surge in Power Generation
 
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Mumbai, December 29, 2017
Revenue wins - Optical Fibre Cables imported by Vodafone and used in Telecommunication are not classifiable under CTH 8544 but under CTH 9001 and leviable to BCD @10%: CESTAT LB
 
New Delhi, December 29, 2017
I-T - When depreciation amount eligible for deduction u/s 80IA is more than income, assessee is not entitled to deduct same on gross receipt: HC
 
Mumbai, December 29, 2017
CX – Although Commr.(A) has articulated appropriate questions, order is woefully short of any studied finding on them - order not consistent with principles of adjudication: CESTAT
 
Mumbai, December 29, 2017
ST - WCS - Composition Scheme - Rules do not prescribe a format for exercise of option - liability cannot be fastened once return filed shows exercise of option: CESTAT
 
Bangalore, December 28, 2017
VCES, 2013 - A different interpretation as far as classification of services cannot tantamount to substantial misdeclaration - Rejection of declaration improper: CESTAT
 
Hyderabad, December 28, 2017
When assessee fails to disclose details at any stage of scrutiny & appellate proceedings, same amounts to clear case of 'concealment of income': ITAT
 
Mumbai, December 28, 2017
ST - Revenue should not tax commodity since FA, 1994 intends to tax value of taxable service: CESTAT
 
Mumbai, December 28, 2017
CX - Enforcement mechanism in s.11D is triggered in relation to duties and not in matter of amount payable u/r 6 of CCR, 2004 as same is not a duty: CESTAT
 
Kolkata, December 27, 2017
For purpose of timely submission of audited books, onus lies on assessee to furnish necessary papers & ensure that CA does his job properly: ITAT
 
Mumbai, December 27, 2017
I-T - Sec 54EC benefits cannot be denied for not making investment within stipulated period when assessee did not get full payment at time of contract for sale: HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.